Par Pacific announces closing of Hawaii Renewables joint venture

Par Hawaii's Kapolei refinery will be able to produce 61 mgy of renewable diesel, SAF, renewable naphtha and LPG. Commissioning of the unit is expected by end of year. (Photo: Par Pacific Holdings Inc.)

Par Pacific Holdings Inc. announced Oct. 21 the successful closing of Hawaii Renewables LLC, a joint venture to construct a biorefinery to produce renewable fuels at Par Pacific’s refinery in Kapolei, Hawaii.

Mitsubishi Corp. and Eneos Corp., through Alohi Renewable Energy LLC, acquired a 36.5 percent equity stake in Hawaii Renewables in exchange for cash consideration of $100 million. 

Par Pacific retained the remaining interest and will complete and operate the biofuels facility through its affiliate, Par Hawaii Refining LLC.

The biorefinery is expected to be completed by the end of the year.

It will be the state’s largest renewable fuels manufacturing facility.

Biofuel production will be scaled at approximately 61 million gallons per year.

Hawaii Renewables will manufacture renewable diesel, sustainable aviation fuel (SAF), renewable naphtha and low-carbon liquified petroleum gases.

Par Pacific first announced the project in April 2023.

This July, the company signed agreements with Eneos and Mitsubishi to establish the joint venture.